Industrial production maintains positive growth in 5M

Vietnam’s index of industrial production (IIP) in the first five months of the year inched up 8.8% year-on-year, according to the National Statistics Office (GSO).

The manufacturing and processing sector grew by 10.8% compared to the same period last year, while electricity production and distribution  by 4.2% and water supply, waste management, and treatment by 10%. However, the mining sector experienced a decline of 3.4%.

In May, the IIP jumped by 4.3% compared to the previous month and 9.4% year-on-year.

Among the total 63 provinces and centrally-run cities, 61 recorded significant year-over-year growth, while southern Ba Ria – Vung Tau province and northern mountainous Cao Bang province experienced decreases of 3.4% and 3.3% year-on-year, respectively.

The number of workers in industrial enterprises posted a 4.5% year-on-year growth as of May 1. Foreign-invested enterprises led employment growth with a 5.3% increase compared to the previous year.